Bulgaria utilities regulator cuts gas prices by 8.4% for February 2024

Bulgaria’s utilities regulator has approved an 8.4 per cent cut in the regulated gas price in the country for the month of February, setting the new price at 71.08 leva a MWh, excluding transportation costs, excise and value-added tax.

The regulator said that it decided to lower the price for a second month running due to the price trends on international gas markets.

The Energy and Water Regulatory Commission (EWRC) said that the long-term gas contract with Azerbaijan, which is linked to oil prices on international markets, rather than prices on gas hubs, once again played a key role in the price cut.

With Azeri gas accounting for 42 per cent of the forecast monthly consumption for February, EWRC said that it remained a positive factor in “achieving beneficial prices.”

The rest of the gas for domestic consumption was secured by state-owned gas company Bulgargaz via a liquefied natural gas (LNG) delivery contract, as well as gas being pumped out of the country’s gas storage facility at Chiren, the regulator said.

(Photo: Marco Caliulo/sxc.hu)

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